7 Reasons Why Has Iflix Closed Their Operation in Bangladesh
treaming services like Bioscope video, Banglalink Bangla-flix, Iflix, Netflix, and Amazon Prime are top-rated in our country. Iflix one of the famous streaming services among them. Why has Iflix closed their operation in Bangladesh?
Before going to the main topic, I have to say something about streaming platforms. There was a time when streaming sites only meant YouTube. As time pass by, the whole scenario has changed.
We have now come along with different types of streaming services. Today I am going to discuss why Iflix, one of the famous streaming services, stopped its operations in Bangladesh.
Iflix, Who Are They?
Iflix is a Malaysian streaming site which came to Bangladesh in 2017. Generally, they focus on the markets that are emerging.
What Was The Strategy Of Iflix?
Iflix, when first came to Bangladesh, they were doing great. They also made an MoU with Robi. In the very early month, they offer a one-month free subscription. After creating an MoU, they started producing Bangladeshi content.
They also provided a 90 days free subscription. They tried to penetrate the market of Robi users by offering them a free subscription. In Bangladesh, the streaming service strategy is quite different. They choose a mobile operator and create some unique offers which make customers use their products.
Iflix was doing the same. To penetrate the local market, they also produced some local content. They had some quality short-films. Unfortunately, somewhere, something happened that made iflix quit making local content. Let’s find out what happened.
Why iflix Stopped Making Bangaledshi Content
There are several reasons for the iflix stopping of making Bangladeshi contents. The reasons are different and can be described briefly. The market’s being immature for a streaming site because of several reasons:-
- Not creating quality content.
- Availability of free tv-series and movies through torrents and FTP servers.
- The high rate of subscription fees, not offering a longtime user-friendly subscription model.
- Not knowing the competitor’s strategy.
- The high cost of internet data.
- Youtube centric content production of content makers.
Why Has Iflix Closed Their Operation in Bangladesh?
There are the primary reasons why iflix has stopped producing Bangladeshi contents. Let’s discuss the reasons mentioned above briefly.
Not Creating Quality Content
Iflix, at the very first stage, did not produce quality content. According to the porters 4p model, if the product is not good enough, it doesn’t matter whether the pricing or promotion is reasonable.
Contents were not enjoyed by the target customers in the very first place. There were better contents available on tv channels and youtube for free. Moreover, Bioscope was coming with quality content at cheaper rates. When people are paying, they are supposed to watch quality content.
Abundant Free Contents From Tv-series and FTP
In Bangladesh, a majority of people watch tv-series from torrent sites or FTP servers. Some of the broadband service providers provide free FTP sites to download or watch tv-series and movies for free. If someone is getting the contents for free, then who would dare to pay for the contents they tend.
High Rate of Subscription Fees
The rate of the subscription fee was higher in iflix. 300 taka were charged monthly for iIflix’ssubscription. As mentioned earlier, when people can see the contents for free, who would pay money for watching them by spending an extra 300 takas is a big question.
On the contrary, iflix’s premium content couldn’t appeal to the viewers. When the viewers were not appealed, the streaming site is bound to fail. No one is going to pay for something that is not appealing.
No User-Friendly Subscription Model
If we look at another streaming company of Bangladesh, Bioscope, we will understand another mistake iflix has made with their business model. Bioscope, the streaming site of GP, started to offer internets packages at a very cheap rate.
Not Knowing the Competitor’s Strategy
Nothing can be more deadly than not knowing the competitor’s strategy. Big empires have fallen only because of not knowing the competitor’s strategy. As we have mentioned earlier bioscope, is a famous streaming service in Bangladesh. Grameenphone started to offer internet packages at a very cheap rate that can only be used for watching the contents of a bioscope.
The strategy of the bioscope created a blue ocean in the streaming market. Where iflix was left behind. Iflix didn’t have the audacity to stand in the market where bioscope got a huge number of subscriptions through providing them special internet offers. Iflix was merely keeping the track of bioscope which later proved to be a deadly mistake.
High Cost Of Internet Data
The cost of internet data is higher than in most other countries in Bangladesh. The internet from Broadband line is cheaper than mobile data-based internet. Since people could watch free content from torrent or FTP sites people were less likely to buy a subscription from iflix. Also, the contents produced by the iflix were less appealing as mentioned earlier.
In short, people were less likely to use their phone data to watch the contents of iflix.
Youtube Centric Content Production
All the contents that were produced were youtube centric. Youtube is free and the people of Bangladesh are more habituated with youtube. In short, the viewers were not ready to pay through credit card or Bkash or any other payment option. Even, now the people of Bangladesh ready for watching content on streaming sites like iflix.
Lessons From The Incident
There are numerous lessons that can be taken from the incident but I will focus on the major lessons that are important for every entrepreneur out there. First of all, have a product that is liked by customers.
If the product is not that good then the product is bound to fail for sure. Secondly, keep the price of the product as low as possible. Thirdly, know the moves of the competitors well. Study and do a significant amount of research on them.
Lastly, know the consumer behavior, and the market condition then make offers. Iflix is not going to make any Bangladeshi content but you can still watch and take a subscription.
Subscribe for newsletter
* You will receive the latest news and updates on your favorite celebrities!
Google is Giving free Classes for Women Entrepreneurs
With an aim to help women to find a better job, make advance their career growth, and to grow their…
SAU On Campus Hult Prize 2021 Final Round Will Be Held Tomorrow
Sylhet Agricultural University is in the running for the Hult prize competition 2021. SAU On Campus Hult Prize 2021 final…
Digital World 2020: Only 1 Day Left for Registration!
T he seventh edition of the three-day digital world from December 9 to 11 is going to organize by the…
E-commerce and F-commerce in Bangladesh During Covid-19
F-commerce (Facebook-commerce) has been a growing field for the last couple of years. The emergence of F-commerce in Bangladesh came as a…
Two Global Tech Giant Google and Amazon Register for Business in Bangladesh
Two Global tech giant Google and e-commerce company Amazon have filed for Business Identification Numbers (BIN) in Bangladesh for the…
Amazon Buys MGM for $8.45 Billion
The e-commerce giant Amazon’s biggest entertainment acquisition will be Metro Goldwyn Myer(MGM). Jeff Bezos’s Amazon buys MGM for $8.45 billion,…
Zeta Becomes a Unicorn with $250 Million Softbank-led Funding
Zeta, a startup that helps banks and fintech firms launch products, now is the newest farm to join the coveted…
EWU Hult Prize 2021 On Campus Grooming Sessions Held
After registrations ceased on the 21st of December 2020, a total of 11 enthusiastic and determined teams moved on to…
3rd Asia Pacific Forum on Youth Leadership, Innovation and Entrepreneurship 2020
In today’s world, youth leadership programs have gained massive response and significance. The youth of today are better interconnected, creative,…
Startup Chattogram Incubation Opening Ceremony Has Happened
The Startup Chattogram Incubation opening ceremony has happened. In recent years, the ICT Division of Bangladesh has started taking initiatives…